use a recurrence relation to model a compound interest loan or investment, and investigate (numerically or graphically) the effect of the interest rate and the number of compounding periods on the future value of the loan or investment
ACMGM096
with the aid of a calculator or computer-based financial software, solve problems involving compound interest loans or investments; for example, determining the future value of a loan, the number of compounding periods for an investment to exceed a given value, the interest rate needed for an investment to exceed a given value
